Friday, September 23, 2016

Meat shippers seek help

Meat shippers are seeking help to recover stranded products following the bankruptcy of a Korean shipping company that was ranked seventh in the world.

South Korean container line Hanjin Shipping Co. filed for bankruptcy protection on Aug. 31, leaving $14 billion in cargo stranded at sea and disrupting the global supply chain. Dozens of ships have been denied access to ports around the world, because it’s unclear who will pay the bills.

Several associations representing different parts of the meat supply chain have joined a coalition of industry organizations in signing a letter to U.S. Department of Commerce Secretary Penny Pritzker, detailing their concerns and asking the department to continue its efforts to facilitate a resolution.

The National Cattlemen’s Beef Association, the North American Meat Institute, the Meat Import Council of America and USA Poultry & Egg Export Council are among the 120 organizations that signed the letter.